State Taxation Administration Reminds Offshore Trust Taxpayers to Complete Individual Income Tax Declaration by October 22

The State Taxation Administration has issued a notice reminding offshore trust taxpayers to declare and pay individual income tax on offshore trust income before the transition period ends on October 22. No late payment surcharges will be imposed on declarations and tax settlements completed within the transition period. In accordance with the "Announcement on Matters Concerning Individual Income Tax for Offshore Trusts" (No. 21 of 2026) issued by the Ministry of Finance and the State Taxation Administration on July 24, offshore trust taxpayers are required to declare and pay tax on offshore trust income. The Announcement grants taxpayers a 90-day transition period. Tax authorities have stated that they will provide tax guidance and tax handling services for taxpayers.

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